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Preferred unveils one-year fix

Preferred has released a one-year fixed rate mortgage product. The new product has no extended tie-in and is available throughout all sub-prime levels with rates from 6.09%. It is available up to 90% LTV. Roger Taylor, director of sales and marketing at Preferred, says: “With no early repayment charge after the fixed period, this makes an ideal mortgage for those people who are working towards improving their credit profile. Borrowers who successfully manage their mortgage repayments over the 12-month period will be in a better position to review their finances without the tie-in of an ERC.”

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Moss quits MEX for MPLC

Andrew Moss has quit Mortgage Express for Mortgages PLC to help the Merrill Lynch lender relaunch into the buy-to-let market later this year. Moss has been with MEX for nine years most recently in the position of product development manager. Peter Beaumont, deputy chief executive at MPLC, says: Andrew is joining us as product strategy […]

No place for sub-prime complacency

Sub-prime lenders have been enjoying a boom over the last few years, but the public has only recently become familiar with the term, owing to its role in this month’s stock market fluctuations. Markets have been up and down again, and commentators are attributing this to the sub-prime lending crisis in the US.

House price inflation slowed in March, says Nationwide

House price inflation slowed to 9.3% in March, the latest figures from Nationwide reveal.Nationwide says the underlying trend is softening as interest rate rises feed through but supply constraints will continue to support prices.Fionnuala Earley, chief economist at Nationwide, says: “The housing market showed further signs of cooling during March.The price of a typical house […]

How we’re challenging challenger banks

The bridging market has enjoyed an excellent couple of years and, as a result, has seen a succession of new lenders enter the market. That competition has forced all of us to look carefully at how we price bridging loans. Over the past few months we have spent a lot of time on adjusting the […]

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